Welcome to our dedicated page for ResMed news (Ticker: RMD), a resource for investors and traders seeking the latest updates and insights on ResMed stock.
ResMed Inc. (NYSE: RMD, ASX: RMD) is a global leader in digital health and cloud-connected medical devices, focusing on innovative solutions that treat and prevent respiratory conditions like sleep apnea and COPD. By transforming patient care, ResMed empowers individuals to live healthier, higher-quality lives. Their diverse product portfolio includes flow generators, masks, and accessories designed to keep patients out of hospitals and manage chronic diseases effectively.
Operating in over 140 countries, ResMed’s cloud-connected medical devices provide data-driven insights used by patients, healthcare providers, and payers to deliver personalized and efficient healthcare. Their comprehensive out-of-hospital software platforms support professionals and caregivers, enhancing the quality of life and reducing healthcare costs. The company earns about two-thirds of its revenue from the Americas, with the remainder coming from Europe, Japan, and Australia.
In recent developments, ResMed successfully defended its intellectual property against a patent infringement claim by NYU, with the PTAB ruling in favor of ResMed on all challenged claims. This outcome underscores the company’s commitment to innovation, backed by over 9,500 issued or pending patents and designs.
ResMed also made headlines with a global field action to update guides for masks with magnets, ensuring user safety around medical implants. Their proactive approach and dedication to patient safety were evident as they addressed potential magnetic interference issues without necessitating a product recall.
Financially, ResMed continues to demonstrate strong growth. In the second quarter of fiscal year 2024, the company reported double-digit growth across its devices, masks, accessories, and residential care software businesses. This robust performance highlights ResMed’s strategic focus on expanding its product offerings and maintaining cost discipline.
ResMed's latest product launch, the AirCurve 11 series, further showcases their commitment to innovation. These bilevel PAP devices feature advanced digital technology to improve patient comfort and compliance, addressing challenges in CPAP therapy adaptation.
Continuing its leadership in respiratory care, ResMed actively participates in significant industry conferences such as the American Thoracic Society International Conference and SLEEP 2024, presenting crucial research on sleep disorders and their impact on health. This research supports the effectiveness of PAP therapy in reducing mortality and improving patient outcomes, solidifying ResMed’s role as a pioneer in the field.
With a clear focus on enhancing patient care through technology and innovation, ResMed is well-positioned to lead the expansion of sleep and respiratory health.
ResMed reported a 20% increase in revenue to $904.0 million for Q1 fiscal 2022, with operating profit up 21%. Non-GAAP operating profit rose 18%, and diluted EPS reached $1.39. Despite COVID-19 related demand fluctuations impacting ventilator sales, the growth was fueled by strong demand for sleep and respiratory products, alongside a recent competitor recall. However, gross margins contracted due to rising costs. The company settled a significant tax dispute, impacting cash flow but providing clarity for future operations.
ResMed (NYSE: RMD) has announced the release of its financial and operational results for Q1 FY2022 on October 28, 2021, after market closing. Management will host a webcast to discuss these results and potentially other forward-looking information. The event is scheduled for 1:30 PM PDT / 4:30 PM EDT. A replay of the webcast will be available on ResMed's website. As a leading innovator in healthcare technology for chronic diseases, ResMed aims to enhance patient care and reduce healthcare costs.
ResMed (NYSE: RMD) announced that Rob Douglas, the president and COO, will speak at the Bank of America Global Healthcare Conference on September 15, 2021, at approximately 5:35 p.m. BST. The event will be held virtually and can be accessed via video webcast. A replay of the webcast will be available one hour after the event and accessible until December 16, 2021. ResMed is noted for pioneering digital health technologies and cloud-connected devices aimed at improving care for chronic disease patients globally.
PAP Therapy Significantly Increases Survival Chances
A recent study presented at the ERS International Congress 2021 shows that patients using positive airway pressure (PAP) therapy for sleep apnea have a 39% higher chance of survival over three years compared to non-users. Analyzed data from over 176,000 individuals confirms the significant survival gap remains even after adjusting for various factors. The study highlights the critical need for diagnosing the estimated 936 million people worldwide with sleep apnea, 80% of whom are undiagnosed. This research, supported by ResMed (NYSE: RMD), underscores the health importance of PAP therapy.
ResMed (NYSE: RMD) announced that CEO Mick Farrell will participate in a virtual fireside chat at the Morgan Stanley 19th Annual Global Healthcare Conference on September 9, 2021, at 1:15 p.m. EDT. The event will be accessible via a live video webcast, with a replay available for a limited time post-event. ResMed specializes in innovative solutions for chronic diseases like sleep apnea and COPD, focusing on digital health technologies and cloud-connected medical devices.
ResMed (NYSE: RMD) announces the promotion of Bobby Ghoshal to President of its SaaS business, effective immediately. This change is aimed at accelerating digital transformation and growth within the company’s software-as-a-service sector. Ghoshal, previously serving as Chief Technology Officer, brings over 25 years of industry experience. Raj Sodhi will depart from his role on September 1, after contributing significantly to ResMed's digital health strategy. CEO Mick Farrell emphasizes the need for innovative digital solutions to enhance healthcare delivery and reach their goals for 2025.
On August 25, 2021, Supermoon Capital launched a $36 million venture fund focused on early-stage startups innovating in the sleep sector. This fund is the first of its kind, targeting the growing 'Night Market™,' which is valued at $488 billion. Co-founded by Pat Connolly and Michael Masterson, the fund aims to address significant sleep issues affecting 75% of Americans. Investments include six startups, such as Clair Labs and Endel, aimed at improving sleep health through science-backed innovations.
ResMed has launched AirSense 11, a next-generation PAP device aimed at enhancing sleep apnea therapy. First available in the U.S., this device features a Personal Therapy Assistant and Care Check-In tools via the myAir app, improving patient engagement and adherence. The device is designed for user comfort with a sleek design and intuitive interface. Patient adherence is reported at 87%. AirSense 11 is compatible with all ResMed masks and offers remote upgrades for its software, reinforcing its commitment to digital health.
ResMed (NYSE: RMD) reported a strong fourth quarter for fiscal 2021, with revenue rising 14% to $876.1 million. Operating profit increased 8%, while non-GAAP operating profit rose 7%. Full-year revenue also grew 8% to $3.2 billion, with non-GAAP diluted EPS at $5.33. The gross margin contracted, mainly due to a shift in product mix. An 8% dividend increase to $0.42 per share was announced. CEO Mick Farrell highlighted recovery in core sleep apnea and COPD patient flow despite challenges from prior COVID-19 ventilator sales. A virtual Investor Day is scheduled for September 8, 2021.
ResMed (NYSE: RMD) will release its fourth quarter fiscal year 2021 financial results on August 5, 2021, after NYSE closure. A webcast to discuss these results will follow, providing essential insights into the company's performance and future outlook. The event starts at 1:30 p.m. PDT / 4:30 p.m. EDT. Interested parties can access the details via ResMed's investor page. A replay will be available shortly after the session, continuing until August 19, 2021.
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